Universe Pharmaceuticals Inc, a traditional Chinese medicine maker, has filed Form F-1 Registration Statement on August 17, 2020 with U.S Securities and Exchange Commission to raise up $30 million in the IPO.
The company plans to raise $30 million by offering 5 million shares at a price range of $5 to $7. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $126 million.
The company currently produces 13 varieties of traditional Chinese Medicine derivatives (TCMD) products that fall into two categories which are chronic condition treatments, and cold and flu medicines. It has sold in approximately 249 cities of 30 provinces in China as of the date of this prospectus.
The Jiangxi, China-based company was founded in 1998 and booked $31 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq Capital Market under the symbol “UPC.” Univest Securities, LLC is the underwriter of the IPO.
The company engages Hunter Taubman Fischer & Li LLC as US Securities Counsel and Friedman LLP as Independent Auditor.
#ipo #tradisional #chinese #medicine #nasdaq #health
Hexcellence Consulting has experienced IPO consulting team focus on listing in US Stock Market,
namely NYSE, Nasdaq and OTC Markets.
Should you interested to list your company in US Stock Market,
please contact us at [email protected].
